EURUSD Technical Analysis: The EUR/USD pair is showing an upside trend today despite the weak momentum in this direction. The pair recorded its highest price so far at 1.0565 and the lowest price at 1.0524, and is currently trading at 1.0543. Although the upside trend is still intact, prices are trading below some short- and medium-term moving averages.
which weakens the bullish strength and suggests the possibility of sideways or corrective trading on the horizon.
EURUSD Technical Analysis: Technical Analysis
- Moving Averages:
Prices are indicating trading below some major moving averages, which may indicate the presence of selling pressure. Simple moving averages and exponential moving averages contribute to directing price action in the short term, and if prices continue to trade below these levels.
we may witness additional weakness in the bullish momentum.
If the pair is able to surpass these averages and return above their levels, this may reinforce the bullish trend and give signals for its continuation towards higher levels.
- MACD Indicator:
The MACD indicator is showing positive signals with a weakening trend strength, as the main line of the indicator is still above the signal line, indicating the continuation of the bullish trend in the short term, but with weak momentum.
Continued trading above the zero level of the MACD indicator reinforces the positive outlook.
but the decline in momentum may indicate the need for the pair to make a temporary correction before resuming the upward movement.
Trading Expectations:
- Given the current conditions, the pair is expected to face some volatility in the short term, with a possibility of returning to test the nearby support levels at 1.0524. If the pair continues to move positively and exceeds the main moving averages, there is a chance to achieve further gains.
- However, in the event of a decline below the 1.0520 level, this may lead to a corrective movement that may extend towards the 1.0500 levels or lower.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0555 | 1.0521 |
| Target Point 1 (TP1) | First resistance: 1.0572 | First support: 1.0508 |
| Target Point 2 (TP2) | Second resistance: 1.0599 | Second support: 1.0490 |
| Stop Loss (SL) | 1.0521 | 1.0555 |
The uptrend remains dominant despite the weak momentum in the current move. It is important to follow the price action relative to the moving averages and the MACD to find clear signals about the continuation of the trend or the occurrence of a correction.
